NewsNFTs are coming to Instagram via Polygon (MATIC)

NFTs are coming to Instagram via Polygon (MATIC)

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Polygon has entered into a great partnership with Meta, through which Instagram users will be able to create and sell NFTs through Polygon – a Level-1 blockchain that operates with a proof-of-ownership mechanism and has a total value deposited on its network of $1.3 billion.

Instagram has one billion monthly active users.

“We are first testing these new features with a small group of creators in the US and hope to expand to more countries soon,” Meta said in a statement.

Start with Polygon, more to follow

Meta plans to release a comprehensive toolkit that will allow Instagram creators to design and release NFTs. The toolkit will initially support NFTs based on Polygon, however Meta clarified that it will support other blockchains in the future.

In addition, Meta claimed that Instagram users can also connect to the Solana network and the Phantom wallet to view their non-exchangeable digital assets (NFTs) and access information about NFT collections on OpenSea.

“Meta chose Polygon for their digital collectables,” Ryan Wyatt, CEO of Polygon studio, tweeted, and continued: “For the first time, creators will be able to cut and sell digital collectibles based on Polygon on Instagram.”

Bringing billions of users to Web3

Polygon pointed out that 50 million people see themselves as online creators globally, highlighting that NFTs allow people to own their digital content online.

Sandeep Nailwal, co-founder of Polygon, described the deal as a significant step towards bringing a billion users onto the web3:

“The added value to the creator economy is unparalleled and championing verifiable digital ownership on a platform with such reach will help us advance our goal of integrating billions of users into Web3.”

The next step

Meta announced that Instagram will begin testing features that will allow users to share their NFTs in May. As it explained, it will test Ethereum and Polygon-based NFTs first, followed by support for Solana and Flow networks.

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